Stay at Work With Vinatex


If you are interested in the potential of staying at work in an entrepreneurial company, you might want to know about Vinatex. It's a large Vietnamese textile and apparel company with plans to go public soon. In addition, it's partnering with two Chinese companies to build a textile and garment industrial park. Read on to learn more about Vinatex and how it plans to achieve its long-term objectives. This article will provide you with information on Vinatex's business model and the company's IPO.

Vinatex is a large Vietnamese textile company

The Vietnamese textile giant Vinatex is a strong performer and has reported a strong first half. The company's consolidated revenue increased by 17.7% year on year and surpassed its whole-year target by 3.3%. Vinatex reported a healthy growth in its garment and yarn business, with revenues exceeding $4 billion and profit up by 173%. In addition, it attributed its growth to stable labour costs and the price of cotton. The company is also planning to increase its focus on digitization and a focus on digital transformation.

The Vietnam National Textile and Garment Group, or VINATEX, is a state-owned conglomerate that manufactures and exports a wide range of apparel and textile products. The group is headquartered in Hanoi and operates more than 80 subsidiaries and affiliates across the country. It employs more than 100,000 people and has a diverse portfolio of products. In addition to its apparel business, VINATEX also has a range of other interests in the fashion industry, including publishing and fashion design.

Viet Nam's textile and apparel industry is heavily dependent on imported raw materials. The country's ancillary industry only supplies about two per cent of its total textile demand, so the textile and garment industry relies on imports to keep up with demand. However, with the advent of government policies that are friendly to the textile industry and low entry barriers, Vietnam is looking forward to a new boom in its textile and apparel industry.

In the near future, Vinatex plans to double its production capacity. It plans to produce six million meters of dyed cloth and over 6,000 tonnes of fibre annually. The company also expects to produce 2 million vests, four million rousers, and one million shirts. In addition, the company plans to manufacture about two million knitwear products a year. If this expansion continues to grow at its current pace, the company will reach a record $10.5 billion in sales this year.

It plans to launch an IPO

Vietnam's state-run textile and garment producer Vinatex is preparing to go public in the second quarter of this year. The company hopes to leverage the Trans-Pacific Partnership, which is expected to boost its exports by up to $50 billion by 2030. The IPO is expected to be the country's largest to date. The company plans to sell a 49 percent stake of its company in the IPO and retain the remainder.

The IPO is the first step to listing a company in Vietnam. The company plans to raise $63.4 million by selling 122 million shares at a price of 11,000 dong ($0.52) per share. A total of 51 percent of Vinatex will remain in state hands while the remaining 0.6 percent will be sold to employees. The IPO process can take up to three years. The company hopes to hold its IPO on July 22 in time for the Trans-Pacific Partnership to be signed and would cover up to 30 percent of global trade.

The company's goal is to increase its registered capital to five trillion dong, from 3.4 trillion dong. The money from the IPO will be used to expand its investment in knitting and weaving. The company also intends to increase its investments in dyeing and stitching to diversify its production and reduce its reliance on Chinese imports. In addition, the company hopes to qualify for the TPP's "yarn forward" requirement. The company expects its net profit to rise 28 percent this year.

The IPO timing is an important factor for the company. The IPO date was originally scheduled for the end of October, but the company had to postpone its plan several times. This IPO will be worth an estimated 800 million USD. It will include a large stake in the company, which is expected to boost the shares' value. The company has 30 Airbus A320S and A321S jets in its fleet.

It is partnering with two Chinese companies to build a garment and textile industrial park

The Viet Nam National Textile and Garment Group (Vinatex) has announced plans to develop two large industrial parks in Viet Nam. The parks will specialize in spinning, weaving and dyeing. While the plan is ambitious, it is not without its challenges. For example, the government has imposed a 15% minimum wage. In addition, the textile industry lacks skilled workers and the shortage is not evenly distributed.

Vietnam's garment industry relies heavily on imported raw materials. Most cotton fibre is imported, and the variety of trim available locally is very limited. Vinatex plans to develop two 375-acre industrial parks in the Mekong Delta provinces of Tra Vinh and Thai Binh. Construction is expected to begin this year and the parks will be fully operational within five years.

The first phase of this project will focus on fabric and fiber manufacturing. The companies will focus on apparel and readymade garments. The first phase of the project will involve building a manufacturing facility of 4.9 ha and costing $7 million. The facility is expected to generate eleven million US dollars in annual sales and create over 3,000 jobs. This is a significant investment for the country's textile industry, which is still in its early stages of development.

The deal with the Chinese will allow the two companies to build the textile and apparel industrial park in Vietnam. The partnership will enable the two companies to expand their exports to Europe, Asia, and the United States. In turn, this will help boost the Vietnam textile industry's growth target to over 10%. The two companies will work together to establish an integrated value chain within the textile industry.

It has a stay-at-work model

Since July 2017, Vinatex International Joint Stock Company has introduced a stay-at-work model for its workers in Hoa Khanh IP, Vietnam. This model enables workers to stay at home to care for their families and continue working in their jobs. Since then, the company has increased its workforce from about 400 to about 500. The company still works three shifts per day, but it now offers accommodation for 400 workers.

The stay-at-work model has backfired on several enterprises in the last month. The company, which started to apply it on June 28, tested workers for the coronavirus, Covid-19, frequently. In the fourth round, the company found that 19 workers had the virus. The company said that the coronavirus could spread through contacts with people who venture outside the factory. Therefore, it is urged to implement the stay-at-work model only if it has a moderate spread.

It could have to lay off up to half of its workforce if the coronavirus pandemic extends into May

A sudden drop in orders and the disappearance of demand are hampering Vietnam's significant textile industry. This could result in vital incomes being lost by garment makers. Vinatex is the country's largest textile company and employs more than 100,000 people. The company has more than 200 factories in Vietnam, and is a major supplier to global brands such as Zara and H&M. If the coronavirus pandemic continues into May, the company could end up laying off as many as 50,000 garment makers.

While many companies have been affected by the virus, Vinatex is likely to be one of the most affected. As a result, layoffs are expected to happen in many sectors. The largest stressor for employees is the financial impact of being unable to find another job. The unavailability of similar positions increases their stress levels, and extended unemployment leads to worse health symptoms.

After the announcement, the company responded with compassion and a generous compensation plan. The company rehired nearly six thousand people as part of its federal wage subsidy program. The company also made generous contributions to charities, and the executive's salary and benefits were donated. Although this situation is rare, it is a good practice to make it as humane as possible for employees who have been laid off.

While layoffs due to the coronavirus have been a positive development, it has also resulted in a number of negative consequences. Those who were displaced due to the virus will be able to find a new job once the virus passes. Furthermore, the reduced number of unemployed personnel allows current employees to take on more responsibility and be more productive. And, this also helps to maintain the health and safety of workers.